Why Businesses Exist? 0.0 / 5 ? Business StudiesBusinesses ExistenceGCSEAQA Created by: tonisha_Created on: 16-09-21 19:35 What is the main purpose of businesses? to provide goods and services 1 of 17 What are goods? physical items 2 of 17 For example? books 3 of 17 What are services? actions performed by other people 4 of 17 For example? a hairdresser 5 of 17 Businesses are set up for various reasons. What are 4 main reasons? When someone makes a good or provides a service someone will want to pay for To distribute goods To benefit other people They see a business opportunity 6 of 17 How many sectors of the economy are there? 3 7 of 17 What are these three sectors? Primary Secondary Tertiary 8 of 17 What does the Primary sector do? produces raw materials or any natural resources which can be used to make goods or services 9 of 17 What are some examples? mining growing collecting 10 of 17 What does the Secondary sector do? manufacture goods 11 of 17 What do they do to the raw materials? turn them into goods 12 of 17 What is an example? a chocolate factory turns cocoa and milk into chocolate 13 of 17 What does the Tertiary sector do? provide services 14 of 17 What do some firms provide for? (2) other businesses consumers 15 of 17 What may be used by both? financial firms 16 of 17 What are some examples? banking insurance 17 of 17
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